South Florida Real Estate Market Trends for 2022

New trends pop up every day in our dynamic world, especially in the real estate market. The pandemic has changed and altered so much in the real estate market in such a short time, and Miami is not exempt. Agents and investors have had to adjust accordingly and sprint to keep up with today’s market. With those changes come new trends which can help potential buyers, investors, and agents get ahead of the competition in 2022. Here are some market trends for South Florida real estate to take note of:

Rent Over Buy

Competition is still high in the market with buyers and investors coming in. However, the amount of properties on sale in the market has gone down heavily. On the other hand, the luxury rental market in South Florida has grown with buyers renting before settling on a dream property. Investors and agents are starting to take notice of this rising trend of renting instead of buying and it could become the more dominant market of real estate the next year.

Buy Now, Not Later

Naturally, prices for luxury properties go up annually and 2022 will most definitely be no exception. Despite the low property sale winter season being in full swing, experts still advise buying your desired property as soon as possible. Two big reasons for buying now and not later are the limited inventory to take advantage of in a competitive market and the possibility of prices going up and potential buyers being priced out.

Know an Expert

Being more a piece of advice than a new trend, knowing a real estate expert can go a long way. Real estate experts with experience and clientele can give you a good idea on forecasted trends and properties for 2022. Having a reference that can give you tips, investing ideas, and even properties to take notice of can give you that extra step up over the competition.

CMC Group is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!